Historia. City Bank of New York was founded on June 16, 1812. The first President of the Bank was the statesman and retired Colonel, Samuel Osgood. Years later, the property of the Bank and its management was taken over by Moses Taylor, a protégé of John Jacob Astor and one of the giants of the world of business in the 19th century. During Taylor's tenure, the Bank worked as a financial center and Treasury of the vast corporate Empire of Taylor. In 1863, the Bank joined the new banking system of the United States and became The National City Bank of New York. To 1868, this institution was one of the largest United States Bank corporate and for 1897 became the first Bank of largescale United States in establishing a Department in abroad. When the Federal Reserve law permitted it, National City Bank became the first Bank of the United States to open an office in the foreign country; in Panama in 1904; by opening a branch in Buenos Aires, Argentina in 1914. Much of the international offices of Citi have less seniority; offices in London, Shanghai, Calcutta and other places were opened in 1901 and 1902 by the International Banking Corporation (IBC for its acronym in English), a company focused to manage banking operations outside the United States; It was forbidden for the national banks of the United States. In 1918, IBC became a subsidiary fully owned by the Bank, and was therefore appended to the Bank. In 1919, Citi became the first U.S. Bank to have assets for $1000 million dollars. Charles E. Mitchell was elected President in 1921 and in 1929 became Governor of the Bank, a position he held until 1933. Under the mandate of Mitchell, the Bank expanded rapidly and by 1930 had 100 branches in 23 countries outside the United States. The policies pursued by the Bank under mandate of Mitchell are seen by different economists, as one of the main causes of the crisis of 1929, which led to the great depression. In 1933 a Committee of the Senate, the Pécora Commission investigated Mitchell for his contribution in the loss of millions of dollars, overpayments and tax evasion. Senator Carter Glass said: "Mitchell, more than any 50 men is responsible for this crisis." On December 24, 1927, the headquarters of the Bank of Buenos Aires, Argentina was destroyed by the Italian anarchist Severino Di Giovanni, in the frame of the international campaign supporting Sacco and Vanzetti. In 1952, James Stillman Rockefeller was elected President and then Governor of the Bank in 1959, occupying the post until 1967. Stillman was a direct descendant of the Rockefeller family through the William Rockefeller (the brother of John D.). In 1960, his cousin, David Rockefeller, became President of Chase Manhattan Bank, the most important rival of Citi in the domain of the banking industry of the United States.
After the union of the Bank with the First National Bank in 1955, Citi changed its name to become The First National City Bank of New York, name that later would be trimmed to First National City Bank in 1962. The company went to the leasing and credit cards market organically, as well as the introduction of certificates of deposits in dollars in London marked the entry of a new negotiable instrument in the market since 1888. The Bank introduced its First National City Charge Service credit card, known popularly as the "everything card" in 1967. This service then became part of MasterCard. In 1976, under the leadership of CEO Walter B. Wriston, First National City Bank (and its holding company First National City Corporation) was renamed to Citibank, N.A. (and Citicorp, respectively). At that time, the Bank had created a management company and had become a subsidiary fully owned by this company, Citicorp (all the shareholders of the Bank had become shareholders of the new company, which became the single owner of the Bank). The name change also helped to eliminate the confusion generated in Ohio with the Cleveland-based Bank called National City Bank, although both institutions would have no direct competition in important areas, except for credit cards issued in the territory of the National City Bank. (Additionally, at the time that the Bank changed its name, National City was a bank that focused on operations in the Cleveland area and had no plans for acquisitions up to 1990 and 2000.) Any confusion of name between Citi and National City ended when PNC Financial Services acquired National City in 2008 due to the sub-prime crisis subprime.
Historia en Colombia. Citi in Colombia opened the first branch in 1916 as part of an ambitious plan of expansion of the Corporation, that today allows you to be present in more than 100 countries around the world. Since Citi Colombia us only has been witness to the evolution of the Colombian economy, but it contributes to its modernization with the development of products and innovative delivery channels, which allowed customers to benefit from the overall character of the Corporation. Since 1986, Citi in Colombia was organized according to the model of consumer banking and corporate banking which currently working joint under a holistic view of the customer, in order to be your partner in achieving your financial goals. For this more than three thousand employees work in the country with high ethical standards and quality of service.
Sostenibilidad en Colombia. Through Citi Foundation, Citi Colombia moved the resources to help the communities where the company operates. According to its report of sustainability 2014, the Foundation supports organizations working for the inclusion and financial education, entrepreneurship and education for young people. One of the initiatives of social support is the Citi award to the micro-entrepreneur, event that seeks to recognize the efforts of the Colombian entrepreneurs, who have embarked on a sustainable business that contributes to the development of the community. In the 13th edition of the award, which was held in November of 2015, was recognized seven micro-entrepreneurs and micro financial institution. The winners received an economic contribution to their micro-enterprises (a total of $127 million), a day of training and recognition by the jury during the award ceremony held Nov. 6 at the Club El Nogal in Bogota. In recognition of the work of Citi in sustainability, organization Dow Jones de Sostenibilidad (DJSI) is part of the global index for 15 years. Misión Citi works tirelessly to provide financial services to people, communities, institutions and countries. With 200 years of experience, you face complex challenges, take advantage of opportunities at the global level and strives to obtain the best results for clients with simple, creative and responsible financial solutions. "The institution connects to more than 1. 000ciudades, 160 countries and millions of people."
To fulfill its mission, the Group has four key principles:
Common goal: one team, with one goal: serve customers, shareholders and the communities in which the Bank operates. Financial responsibility: prudent, transparent and reliable behavior. Wit: Work directed to improve the lives of customers through innovative initiatives that capitalize on the breadth and depth of information, global network and worldwide products. Leadership: Talented and highly trained, people who grow up in an atmosphere of meritocracy in which respects diversity and excellence, initiative and determination are required.
Medio Ambiente
Citi aware of the importance of helping to preserve the environment and the impacts that climate change has on its operation, has implemented sustainable initiatives in the various processes that allow prevent, control, mitigate and minimize their environmental impacts. Similarly, in the processes for the offering of financial products and services, Citi seeks to integrate criteria of responsibility and sustainability which takes into account its implications in the long run looking for acting correctly for the system and for its customers Operaciones
Climate change is a critical issue that requires the coordinated action of Governments, businesses and civil society. Taking into account the foregoing, Citi is committed to working to achieve the environmental efficiency in all its operations. To meet this objective priority Citi has established specific goals relating to waste management, efficient energy consumption and the reduction in the emission of gases that cause the greenhouse effect.
Citi Foundation
It is the body through which Citigroup channels resources to help communities where the organization operates and through which is defined and manages investment programs. The Foundation provides philanthropic support to initiatives that give scale and sustainability to sectors of microfinance and business development, through the creation of financial knowledge and works to strengthen the institutional capacity of their allies, expand the range of new financial products and services for the construction of assets, and supporting research to identify innovative initiatives. The areas of focus for social investments are: Support to companies in growth to increase the number of small and medium-sized companies that provide new sources of income and employment opportunities for low-income people.
Microfinance to improve the range of financial products and support the delivery of microcredit that accelerate the financial inclusion of low-income people. Creation of financial capacity to seek, through educational programs, to increase the chance of low-income youth and adults to adopt positive financial behaviors that allow them to accumulate and preserve their financial assets. Education and quality of life to support low-income young people between 13 and 25 years so that they can obtain education or post-secondary training and insert into the labor chain or initiate business income-generating. Diversidad
Citi has a team of talented and highly trained people who work in an environment of meritocracy in which respects diversity, be it values excellence and encourages the development of employees, in order to offer the best service and innovative products to its customers.
Talento
At Citi we use multiple channels for the attraction of human talent, always looking for different types of interests, knowledge and education in our employees. This approach enables us to ensure that from various areas and at all levels of the Bank we have people who appreciate and respect different perspectives and opinions, which prepares us to respond better to the needs of today's globalized societies. Estrategia de diversidad. Diversity strategy focuses on four specific areas: The human talent, to be the employer of choice Be the provider of choice for customers. For providers, be the strategic partner of choice For communities, being the neighbor of choice The diversity is concentrated on three fronts:
Women's Development. Feminine diversity. Equal employment opportunities.
